Panther Metals PLC (LSE:PALM) highlighted positive drilling results from the Coglia nickel/cobalt project in Western Australia.
Panther Metals Ltd (PML), in which Panther Metals PLC (LSE:PALM) holds a 36.6% stake, said the results returned the highest nickel and cobalt grades to date.
Results from the latest 26 dill holes included 21 metres (m) at 1.34% nickel, with a peak intercept of 1m at 3.77% nickel; 10m at 1.3% nickel; 12m at 1.03% nickel, including 1m at 3,160 parts per million cobalt; and 25m at 0.97% nickel.
“The latest batch of very positive drill assay results haven't surprised the technical team in Australia, but this further set of excellent intercepts reinforces our confidence in their ability to deliver value from the drill bit at Coglia,” said Panther Metals PLC’s chief executive Darren Hazelwood.
“As pressure builds across the globe to secure safe supply of commodities to drive the EV [electric vehicle] revolution, within the best practice frameworks expected, Coglia is becoming well placed to deliver.”
ASK-listed PML has yet to receive the results from a further 33 holes.
“We look forward to receiving the results from the remaining 33 drill holes ahead of PML commencing the planned JORC compliant maiden mineral resource estimate for Coglia," said Hazelwood.
PML has almost completed its maiden 6,000m reverse circulation (RC) drilling programme at Coglia.
“During this time, we have discovered an extension to the historic nickel and cobalt mineralisation zone and encountered significantly high grades of nickel and cobalt within thick zones of lateritic mineralisation both inside and outside of the current exploration target,” said PML managing director Daniel Tuffin.
“Drilling is due to complete at Coglia by the end of the month, at which point the rig and crews will move to our Eight Foot Well Gold project to begin a 2,500m RC infill programme," he added.